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SHRM - CP LATEST UPDATED STUDY GUIDE RATED A.
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SHRM - CP LATEST UPDATED STUDY GUIDE RATED A.
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SHRM - CP LATEST UPDATED STUDY GUIDERATED A.
Cost-of-living adjustment (COLA)
Correct Answer -Pay adjustments given to eligible employees regardless
of performance or organization profitability- usually linked to inflation
Compa-ratio
Correct Answer -Pay rate divided by the midpoint of the pay range.
Broad banding
Correct Answer -combing several salary grades or job classifications with
narrow pay ranges into one brand with a wider salary spread
behavioral interview
Correct Answer -type of interview that focuses on how applicants
previously handled real situations
competency based interview
Correct Answer -Type of interview in which the interviewer asks questions
related to competencies for the position and asks candidates to provide
examples of times they demonstrated the competencies.
SWOT analysis (strengths, weaknesses, opportunities, threats)
Correct Answer -Process for assessing an organizations strategic
capabilities in comparison to threats and opportunities identified during
environmental scanning.
,Blue Ocean Strategies
Correct Answer -Strategies that generate competitive advantage by
creating a new marketplace arena in which there are no other competitors.
SMART Goals
Correct Answer -Specific, Measurable, Attainable, Realistic, Timely
What is the Lean Approach?
Correct Answer -eliminating nonvalue add from the process without
sacrificing the quality of work. drive out waste and improve the customer
experience.
What are KPIs?
Correct Answer -Key performance indicators
What is gap analysis?
Correct Answer -breakdown of your current workforce and the skills they
possess compared to the workforce you will need to reach key business
goals
Value Stream Mapping
Correct Answer -organizations use to create a visual guide of all the
components necessary to deliver a product or service, with the goal of
analyzing and optimizing the entire process
What is offshoring
Correct Answer -the relocation of a business process from one country to
another—typically an operational process, such as manufacturing, or
supporting processes.
, What is duty of care?
Correct Answer -it's determining the employer's responsibilities for their
employees (and employees' dependents) who cross borders as part of
their work duties.
PESTLE Analysis
Correct Answer -Analysis of the external political, economic, social,
technological, legal and environmental factors affecting a business
What is an expatriate employee?
Correct Answer -Employees of organizations in one country who are
assigned to work in other countries on long- or short-term business
projects
What is an accidental expatriate?
Correct Answer -workers include extended business travelers on
assignment for up to three months and short-term assignees often working
overseas for up to one year, to cross-border commuters who return home
on weekends and global nomads who move from assignment to
assignment without returning home.
What does EVP stand for?
Correct Answer -Employee Value Proposition
What is a decentralized HR structure?
Correct Answer -Autonomous HR functions housed in separate business
units (e.g., by product line or geography) that operate and make decisions
mostly independent of the other units.
What is bench marking?
Correct Answer -The process of assessing how well one company's
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